Sebi has a lot to learn from the US investigations into insider trading that have resulted in the arrest of several hedge fund managers. The crackdown is based on two years of investigations which included wiretaps on the suspects. When is the last time you heard of Sebi working on such an operation? Ironically, the authorities in India have frowned upon journalists who have tried to do such ‘sting’ operations.
Investigative authorities and regulators need to examine the case in detail and draw appropriate conclusions from it.
Sameer Sud, New Delhi
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